Risk Management - Operational Risk

Operational risk is the “risk of loss resulting from inadequate or failed internal processes, people and systems or from external events” (Basel Accord). Because operational risk impacts practically every area of financial services, it has become an important area of focus among financial service professionals. This course provides participants with a good understanding of operational risk and how to manage it.

• Define operational risk in accordance with market standards
• Understand the regulatory environment for managing operational risk
• Identify and categorise the different causes of operational risk in financial services
• Assess the potential impact of diverse operational risk
• Understand different quantitative and qualitative approaches to managing operational risk
• Appreciate the importance and use of an operational risk incident database
• Identify different means of mitigating operational risk
• Understand different ways of organising an operational risk management function